The report gave warning, however, that to prevent large trade imbalances, reforms would be needed to make prices and wages more flexible and workers and capital more mobile.EMU's route from rhetoric to economic blueprint was a familiar one, if unusually swift.
Because capital is more mobile than labor, competition among governments significantly constrains how capital is taxed.
Investing abroad is more attractive and easier than ever before, and capital is more mobile.
As capital becomes more mobile, investors worry less about where their trades take place, so long as the price is right.
But capital is more mobile today, so Ulster may catch the eye of investors more quickly.Whatever is decided will be the result of the first proper economic policy debate Northern Ireland has seen.
But talent and capital are getting more mobile; and the demographic pressure of those ageing populations is mounting.
As emerging markets have boomed and capital has become more mobile, a growing number of governments around the world have begun to cultivate a desire to create their own financial centres.
"Our goal is to put Dubai's clock up on the walls of the world's financial institutions, in a slot between Hong Kong, Singapore and London," says Nasser Alshaali, a senior official with the centre's new financial exchange.As capital is becoming more mobile, an unprecedented opportunity exists for cities to join the competition for international financial business.
German firms face some of the highest rates of tax in the world but most of them stay put, rather than fleeing en masse to, say, Sudan.Nevertheless, at the margin, it is clear that capital is becoming more mobile, and some economists fear that as countries offer lower taxes to lure foreign firms, there will be a "race to the bottom".
The capital will be used to acquire more mobile app startups, as well as on marketing.
